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Regional Housing Market in Turkey: Convergence Analysis for NUTS-2 Abstract: Economic impact of price bubbles that may occur in housing market and risks they pose for the housing market make it necessary to observe the course housing prices. Therefore, the aim of this study is to analyse whether changes in regional housing prices converge to changes in national housing prices in Turkey. In this context, relative house price index (HPI) is generated by monthly house prices for the NUTS-2 regions of Turkey. As a result of the application of unit root tests to the relative HPI generated, it was determined that the changes in housing prices diverged. This shows that the price changes in regional housing markets in sub-market position are independent from the price changes in national housing market. The results obtained from Zivot-Andrews test, which takes into account the structural breaks, shows that the changes in housing prices in the TR22, TR41 and TR42 regions converge to the changes in national housing prices with structural breaks

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  • Ali YILDIRIM
  • Ayten Ayşen KAYA

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  • Ali YILDIRIM & Ayten Ayşen KAYA, 2020. "Regional Housing Market in Turkey: Convergence Analysis for NUTS-2 Abstract: Economic impact of price bubbles that may occur in housing market and risks they pose for the housing market make it necess," Sosyoekonomi Journal, Sosyoekonomi Society.
    • Handle: RePEc:sos:sosjrn:200408
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    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • R19 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Other
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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